Debt recovery process at PL&PARTNERS law firm

To get an effective debt recovery, having a proper debt recovery process is essential. A reasonable and plain process helps to identify the tasks need to be done and also improve the work efficiency, leading to have the work done faster, and the successful rate of debt collection increases.

Over 10 years of operation, PL & Partners has acquired many years of experience in legal consultancy in general and debt recovery in particular. PL&Partners has successfully handled hundreds of cases, whereby accumulated a lot of experience to establish reasonable processes to collect debt efficiently.

Of course, subject to each case and each client, we are going to have our own adjustments. However,  a standard procedure can be outlined as follows:

STEP 1: RECEIVE THE REQUEST OF DEBT RECOVERY.

If businesses, organizations and individuals are facing with bad debts, please contact us immediately:

PL&PARTNERS LAW FIRM

OfficeM Floor, Dai Thanh Binh Building, 911 Nguyen Trai, Ward 14, District 5, Ho Chi Minh City

Phone: 093.1111.060

Email: info@pl-partners.vn

Website: www.PL-PARTNERS.vn

We are willing to listen your information, feedback, and guide the types of documents to be prepared.

STEP 2: RECEIVE AND ANNALYZE DOCUMENTS.

In this step, the client will provide PL&Partners with all documents related to debt: For businesses, they can be contracts, invoices, goods delivery notes, minutes of delivery and reception, acceptance records, debtor’s debt acknowledgement. For individuals, they can be loan documents, purchase and sale documents, debtor’s debt acknowledgement, promissory note,…

Note: Clients only need to provide a copy of such documents, the original is still kept by the clients.

After receiving sufficient documents, PL&Partners is going to annalyze and verify the legality and the basis of debt recovery of each case. If the profile is not completed, we will guide the clients to collect papers, documents and evidence to take more advantages of them, thereby proposing proper solutions. Entrusted by the client, we will enter into a debt recovery service contract and carry out the work under the client’s authorization.

STEP 3: MAKE DEBT RECOVERY STRATEGY AND PLAN.

Subject to the nature of the case and the object of debt collection, PL&Partners will devise a debt recovery strategy. A detailed plan will then be drawn up to carry out the work.

At PL&Partners, we perform debt collection based on the fastest, most efficient and least expensive debt recovery criteria, helping return bad debts legally and ensure the legitimate interests of client without resorting to other risky measures.

PL&Partners’ lawyer will take carefully into account the legal needs, reputation, finance, advantages and commerciality of client from time to time prior to offering a debt recovery strategy to achieve the highest success rate and the lowest level of risk.

STEP 4: ACCESS TO NEGOTIATION AND PUT A COMPREHENSIVE PRESSURE.

PL&Partners will be exposed to debtors in a series of different ways. During this time, if the debtor is willing to cooperate for debt repayment, negotiation and conciliation can be applied to find a common voice between the parties. If necessary, we will propose debt rescheduling, debt freezing or other methods to help clients collect debt in the most effective manner.

On the contrary, during our approach, if the debtor shows an unwillingness to repay the debt, a comprehensive pressure shall be imposed to claim the legitimate interests of the client.

In fact, most of the debts are recovered at this stage.

STEP 5: FILE A LAWSUIT.

Where the debtor intentionally fails to fulfill the debt repayment obligation, PL&Partners will initiate a lawsuit to the competent people’s court. We will prepare documents, draft petitions, file a lawsuit and appoint lawyers and representative professionals to work, on behalf of client, with authorities and participate in proceedings at people’s courts at all levels.

After a decision or a judgment has taken effect, if the debtor voluntarily return the amount of debt, PL&Partners will continue to collect debt for the client. If the debtor keeps not paying, we will work, on behalf of the client, with the judgement enforcement agency.

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The debt recovery process at PL has been delivered to you. As mentioned above, this is just the most general and basic process. When a client has a need to collect debt, we will have more specific discussions to come up with individual adjustments for each client, thereby entering into a formal debt recovery service contract with full legitimate rights and obligations of both parties.

Should you need to recover any debt, please contact hotline: 093.1111.060 for support.

And do not forget keeping other legal information updated of PL&Partners.

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